ARKK has been showing some weakness the last few days. It is barely holding on to the 9/21 EMA cloud and closed today just below the upward trend line. The upper green box would be my first buy zone if AAKK was to sell off. Of note... The fund has risen so far and so fast that a deeper correction could take it back down to 110 which would only be the 236 Fib...
If TSLA actually has a significant pull back here are the levels I will be watching for a reversal. A break of 780.10 is the trigger for a potential drop. The first area of support would be 710/735. After that its all the way down to 650. Interestingly the long term 236 fib level lines up with 420. I'm not calling for a short as TSLA may bounce aggressively...
I posted this chart a while back with the title " Eventually the new cycle is going to worry about this" referring to the fact that 10year yields appeared to be breaking out of a base. With the break above 1.27 today the high of the March 1st pin bar has been breached as well as the June 1st high confirming a base breakout. Although this is good news for...
The USD is not looking very strong at all right now. A break of 88 to the down side on the DXY would be very significant. It will be interesting to see how the markets react to a potential dollar breakdown. It could have a big impact on commodities , bonds, everything. A lower dollar benefits exporters, but is not good for companies who need to import a lot of...
BTCUSD is within striking distance of the 1.618 extension inversion as measured from the Dec 2017 high to Dec 18 low. A modest fib pull back to the .236 would give us 40% decline. The measurement lines up nicely with the ascending long term trend line on this log chart. I am extremely bullish on Bitcoin, but its good to keep in mind the ridiculous percentage...
DOCU had a false breakout today but the chart still looks really bullish. A break of the top of the box could yield a move to ATH and then extensions. No trade unless 275 trigger is broken. This would be a short term swing and would not be held through earnings.
PSTG has coming into a key level. I would expect a pull back here as traders take profits. Look for price to hold the shaded box and break out. If it breaks out right away I would prefer to take it on a retest of the breakout zone as this has pushed up quite hard and probably needs some time to consolidate.
I've been watching this zone for a while as very significant support. Could see an outsized move down. I'm unsure about the impact on stocks at this point. Many would say it is great news as it confirms money moving into stocks. I personally feel its a good sign as long as the move down is slow and controlled as we do not want to see a rapid rise in bond yields....
SPX will likely hit 4000 this week, maybe even Monday night before the market reopens on Tuesday. Although it may be pointless to suggest caution in this wildly bullish market that is defying gravity its prudent to point out the areas of resistance I see. 4000 has been acting as a magnet and once reached will likely generate some profit taking. Price is also...
I am still in this trade from my initial post on on Dec 29. Check out the two posts below. We now have another opportunity to enter or add to an existing position. Price has run up into 382 fib resistance. If price can consolidate here and break above 412.. a push to 425/440 and 470 is possible. ZM has earnings on Mar 1st which may provide a longer term momentum...
I have been in this since Dec 16 when price broke the 6 month range. I took some profits on the initial trade as it hit my first target then added back to the position on Jan 9. See previous post below for details. SHOP had a beautiful weekly close last week and is at a new buy point going into earnings on Feb 17. The plan is to add to the position on a break...
NVDA has made a clean break of the multi week range. NVDA is the main chip maker for Crypto mining so I'm guessing that is the catalyst. I entered on the break today but continuation entry is still possible. Wait for Price to consolidate and break higher or buy on a pull back to the 382 fib of todays move. Given the the catalyst and upcoming earnings momentum...
Here is quick log chart with fib time of BTCUSD . It suggests 200k by year end is not out of the question as crazy as it may seem. Whether you like Elon Musk or not it is obvious that today's news about TSLA taking BTC as payment is a huge catalyst. IMO it is just the start of a wave of positive news regarding Crypto. You would have to be a masochist to fight both...
Nice base pattern in ACB. Sector seems to be catching some interested. Could enter inside the box or wait for a break of 14.50. Targets would be fib levels on the way up. What to see it hold the box and supporting trendline.
Here is a SPX/TLT ratio chart with a SPX overlay(bottom panel) The the ratio has just broken out to new highs. This should be good news for stocks. The ratio with SPX overlay shows us that as long as the ratio stays positive so do stocks.
I have been watching this for a while. Any time there is even the smallest positive news story the price spikes. Its worth keeping in eye on with an alert set above 14. If this thing gets any kind of positive news story it could double quickly. It has a high short float and is owned in the ARK 3D printing fund. I do not recommend trading this unless you are...
NAS 100 had beautiful bounce today and has broken above the neutral zone and the 618 in the 13277 area. (see previous chart) Once again its making a big move overnight. Price is now coming into the completion zone of a 4H bearish Cypher pattern. Caution is warranted before starting new positions early in the morning if we open in the completion zone. I'm...
I have been waiting for a proper entry on BTC since the first touch of the longer term 382 Fib. Price has confirmed the double bottom and broken the downward trendline and is now offering a nice pull back entry at support. See my Fib Method post linked below to see my process with updates leading up to this entry.